Leonard Green Cuts Rite Aid Stake

The private-equity firm sold over $152 million in shares of the drug store.

Rite Aid's second-largest shareholder and three executives sold 35,089,500 shares for $158,031,618 from Sept. 27 through Oct. 8 as shares reached a multiyear high.

Private-equity firm Leonard Green & Partners sold 85% of its common-share holdings in Rite Aid (ticker: RAD), selling 34,000,000 shares for $152,660,000, an average of $4.49 each. Leonard Green now holds 6,000,000 shares, a stake of less than 1%, down from 4.3%....